Candriam S.C.A. Has $14.02 Million Position in Mineralys Therapeutics, Inc. $MLYS

Key Points

• Candriam S.C.A. increased its holdings in Mineralys Therapeutics, acquiring an additional 577,561 shares during the first quarter, raising its total ownership to 882,833 shares, valued at $14,019,000.
• Insider trading activity was noted as David Malcom Rodman and CEO Jon Congleton sold 11,365 and 15,884 shares respectively, reflecting a decrease in their ownership positions.
• Mineralys Therapeutics' stock is currently trading at $15.48, with analysts giving it an average rating of "Moderate Buy" and an average target price of $32.25.

Candriam S.C.A. raised its position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) by 189.2% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 882,833 shares of the company's stock after acquiring an additional 577,561 shares during the period. Candriam S.C.A. owned about 1.36% of Mineralys Therapeutics worth $14,019,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. SR One Capital Management LP lifted its stake in Mineralys Therapeutics by 55.1% in the 1st quarter. SR One Capital Management LP now owns 3,127,933 shares of the company's stock valued at $49,672,000 after acquiring an additional 1,111,111 shares in the last quarter. Vanguard Group Inc. grew its stake in Mineralys Therapeutics by 42.1% in the first quarter. Vanguard Group Inc. now owns 2,035,506 shares of the company's stock valued at $32,324,000 after purchasing an additional 603,464 shares in the last quarter. Jennison Associates LLC grew its stake in Mineralys Therapeutics by 82.9% in the first quarter. Jennison Associates LLC now owns 1,979,033 shares of the company's stock valued at $31,427,000 after purchasing an additional 897,027 shares in the last quarter. Millennium Management LLC increased its position in shares of Mineralys Therapeutics by 1,015.8% during the 4th quarter. Millennium Management LLC now owns 1,101,674 shares of the company's stock worth $13,562,000 after purchasing an additional 1,002,941 shares during the last quarter. Finally, Caligan Partners LP increased its position in shares of Mineralys Therapeutics by 3.1% during the 4th quarter. Caligan Partners LP now owns 1,011,155 shares of the company's stock worth $12,447,000 after purchasing an additional 30,000 shares during the last quarter. Institutional investors own 84.46% of the company's stock.

Mineralys Therapeutics Stock Down 0.0%

Shares of MLYS traded down $0.0070 during trading hours on Monday, hitting $14.8830. 674,425 shares of the company were exchanged, compared to its average volume of 881,893. The company has a market cap of $986.67 million, a price-to-earnings ratio of -4.13 and a beta of -0.29. Mineralys Therapeutics, Inc. has a fifty-two week low of $8.24 and a fifty-two week high of $18.38. The firm's fifty day moving average is $14.00 and its 200 day moving average is $13.74.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last released its earnings results on Tuesday, August 12th. The company reported ($0.66) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.78) by $0.12. Analysts anticipate that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

Insider Buying and Selling

In related news, insider David Malcom Rodman sold 11,365 shares of the company's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $12.93, for a total transaction of $146,949.45. Following the completion of the sale, the insider directly owned 92,891 shares in the company, valued at $1,201,080.63. This represents a 10.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Adam Scott Levy sold 59,925 shares of the company's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $14.76, for a total value of $884,493.00. Following the sale, the chief financial officer owned 132,934 shares of the company's stock, valued at approximately $1,962,105.84. This represents a 31.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 123,051 shares of company stock worth $1,776,262 in the last ninety days. 25.56% of the stock is owned by insiders.

Analysts Set New Price Targets

MLYS has been the topic of several recent analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $42.00 price target on shares of Mineralys Therapeutics in a research report on Wednesday, August 13th. Guggenheim set a $48.00 target price on Mineralys Therapeutics and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Wall Street Zen upgraded Mineralys Therapeutics from a "sell" rating to a "hold" rating in a research note on Friday. Finally, Jefferies Financial Group assumed coverage on Mineralys Therapeutics in a research note on Tuesday, June 10th. They set a "hold" rating and a $15.00 target price on the stock. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $32.25.

Mineralys Therapeutics Profile

Mineralys Therapeutics, Inc, a clinical-stage biopharmaceutical company that develops therapies for the treatment of hypertension and chronic kidney diseases. It clinical-stage product candidate is lorundrostat, a proprietary, orally administered, highly selective aldosterone synthase inhibitor for the treatment of cardiorenal conditions affected by abnormally elevated aldosterone.